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Fraud

CFTC charges Michael Bruce Gale with commodity pool fraud

Tue, 14/08/2012 - 14:08

The US Commodity Futures Trading Commission has filed a civil anti-fraud enforcement action against Michael Bruce Gale, individually and doing business as Capital Management Group (CMG). »

Ponzi scheme

Hoopes to pay over USD11.8m for operating Ponzi scheme

Wed, 01/08/2012 - 06:15

The US Commodity Futures Trading Commission has obtained a federal court order requiring defendant Michael Justin Hoopes of Rexburg, Idaho, to pay more than USD10.4m in restitution and a civil monetary penalty of over USD1.4m for operating a Ponzi scheme that defrauded Idaho residents and others. »

Fraud

CFTC charges Victor Yu and VFRS with forex fraud

Tue, 31/07/2012 - 12:15

The Northern District of California has entered an emergency order freezing the assets of defendants Victor Yu of San Jose, California, and his company VFRS based in Alameda, California. »

Policy

CFTC proposes clearing determination for credit default and interest rate swaps

Thu, 26/07/2012 - 14:15

The Commodity Futures Trading Commission has proposed new rules to require certain credit default swaps and interest rate swaps to be cleared by registered derivatives clearing organisations (DCOs). »

Fraud

CFTC charges Philip Leon, Paul Rangel, John Wilkins and Altamont Global Partners with fraud

Thu, 26/07/2012 - 12:28

The US District Court for the Middle District of Florida has frozen the assets of defendants Philip Leon of Altamonte Springs, Florida, Paul Rangel of Apopka, Florida, John Wilkins of Chuluota, Florida, and their company, Altamont Global Partners of Longwood, Florida. »

Barred sign

CFTC seeks to revoke registrations of Brian Kim and Liquid Capital Management

Wed, 25/07/2012 - 15:54

The US Commodity Futures Trading Commission has filed a notice of intent to revoke the registrations of Brian Kim and Liquid Capital Management (LCM). »

Approved stamp

ICE Trade Vault granted provisional approval as a swap data repository

Fri, 29/06/2012 - 13:00

The US Commodity Futures Trading Commission (CFTC or Commission) has approved the application of ICE Trade Vault, LLC for provisional registration as a swap data repository. »

Philip A Falcone, Harbinger Capital Partners LLC

SEC charges Philip A Falcone and Harbinger with securities fraud

Thu, 28/06/2012 - 14:34

The Securities and Exchange Commission has filed fraud charges against New York-based hedge fund adviser Philip A Falcone (pictured) and his advisory firm, Harbinger Capital Partners LLC for illicit conduct that included misappropriation of client assets, market manipulation, and betraying clients. »

Judgement hammer

CFTC orders Barclays to pay USD200m penalty for attempted manipulation of LIBOR and Euribor Benchmark Interest Rates

Thu, 28/06/2012 - 14:00

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Barclays PLC, Barclays Bank PLC (Barclays Bank) and Barclays Capital Inc. (Barclays Capital) (collectively Barclays or the Bank).  »

Orange fraud sign with magnifying glass

Gutterman and companies to pay over USD2.5m over gold and oil commodities fraud

Thu, 28/06/2012 - 06:00

The US District Court for the Southern District of Florida has entered an order of default judgment and permanent injunction against Abraham Gutterman, who currently resides in Brooklyn, NY, and his companies, Alliance Capital Metals LLC (ACM) and AR Goldman Wealth Management, LLC (ARGWM), both of South Florida. »

Judgement hammer

Court finds HF manager in civil contempt for failing to pay USD12m to defrauded investors

Wed, 27/06/2012 - 16:00

An Order Finding Defendants In Civil Contempt has been issued by a judge in the United States District Court for the Northern District of California against defendants Lawrence R Goldfarb (Goldfarb) and Baystar Capital Management, LLC (Baystar Capital) in the proceeding entitled Securities and Exchange Commission v. Lawrence R. Goldfarb, et. al, Case No. C-11-00938-WHA. »

Judgement Hammer

Court approves SEC settlements with two former Bear Stearns hedge fund portfolio managers

Tue, 26/06/2012 - 15:00

The US District Court for the Eastern District of New York ahas approved Securities and Exchange Commission settlements with two former Bear Stearns Asset Management portfolio managers, bringing to a close the SEC’s civil litigation against the managers. »

Red Barred sign

NFA permanently bars Arjent Capital Advisors and Chicago Trading Managers

Fri, 22/06/2012 - 10:24

The National Futures Association (NFA) has permanently barred Arjent Capital Advisors LLC (ACA), a commodity pool operator, and Chicago Trading Managers LLC (CTM), a commodity pool operator and commodity trading advisor, located in Boulder, Colorado. »

Gavel and scales

SEC charges two feeders for one of south Florida’s largest-ever Ponzi schemes

Tue, 05/06/2012 - 17:00

The Securities and Exchange Commission (SEC) has charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida. »

Orange fraud sign with magnifying glass

Cilli and Progressive Investment Funds to pay USD700,000 over commodity pool Ponzi scheme

Thu, 31/05/2012 - 16:00

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court consent order requiring defendants Victor Eugene Cilli and his company, Progressive Investment Funds LLC (Progressive), both formerly of Hackensack, NJ, to pay, jointly and severally, restitution of USD243,000 and a USD474,000 civil monetary penalty in connection with operating a commodity pool Ponzi scheme that defrauded investors of over USD500,000 and misappropriated investor funds. »

Two fingers

SEC charges two investment advisers with fraud

Thu, 31/05/2012 - 11:00

The Securities and Exchange Commission has charged Jorge Gomez, an investment adviser formerly located in Dallas, Texas and Mexico, with perpetrating a fraudulent scheme to misappropriate millions from an investment advisory client (“Client”). The SEC also has agreed to settle related charges against Roberto Aleph Espinosa, a former resident of Miami, Florida, who, in conjunction with Gomez, provided investment advisory and brokerage services to the Client. »

Orange fraud sign with magnifying glass

SEC halts fraudulent investment scheme by New York-based fund manager

Mon, 28/05/2012 - 16:00

The Securities and Exchange Commission has announced charges against a New York-based fund manager and his two firms for luring investors into a trading program that would purportedly maximise their profits but instead spent their money in unauthorised ways. »

Two fingers

SEC charges two feeders over Ponzi schemes

Wed, 23/05/2012 - 11:00

The Securities and Exchange Commission has charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida. »

Approved stamp

CFTC approves final rule on swap data record-keeping and reporting requirements

Mon, 21/05/2012 - 16:00

The US Commodity Futures Trading Commission (CFTC) has approved a final rule on swap data record-keeping and reporting requirements for counterparties to pre-enactment swaps, those swaps executed prior to passage of the Dodd-Frank Act, and transition swaps, those entered into between the law’s enactment date and the applicable compliance date for swap data record-keeping and reporting. »

Orange fraud sign with magnifying glass

SEC charges Seattle-based fund manager Spangler with fraud

Mon, 21/05/2012 - 10:49

The Securities and Exchange Commission has charged a Seattle-based financial adviser and his firm with defrauding clients by secretly investing their money in two risky start-up companies he co-founded. »

Orange fraud sign with magnifying glass

Ronald E Satterfield and Nicholas and Patricia Bos to pay USD7.5m over forex Ponzi scheme

Fri, 18/05/2012 - 11:24

The US Commodity Futures Trading Commission (CFTC) has obtained two federal court consent orders of permanent injunction against Ronald E Satterfield and Nicholas and Patricia Bos. »

Orange fraud sign with magnifying glass

CFTC charges Michael J Leighton with USD1.6m commodity pool fraud

Tue, 15/05/2012 - 06:00

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action in the US District Court for the Central District of California, charging Michael J Leighton of Torrance, California, with solicitation fraud and issuing false statements in connection with the operation of a commodity trading pool.  »

Robert Khuzami, Director of the  Division of Enforcement. SEC

Martin Currie to pay USD14m to settle SEC and FSA charges

Fri, 11/05/2012 - 12:00

The Securities and Exchange Commission has charged Scottish fund management group Martin Currie for fraudulently using one of its US fund clients to rescue another client, a China-focused hedge fund struggling in the midst of the global financial crisis. »

Orange fraud sign

CFTC charges Madison Dean with forex fraud

Fri, 11/05/2012 - 10:00

The US Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the US District Court for the Eastern District of New York charging Madison Dean, Inc of Wantagh, NY, and its principals, George Athanasatos, also of Wantagh, and Laurence Dodge of Fresh Meadows, NY, with fraudulently soliciting approximately 19 persons to invest approximately USD415,000 in managed trading accounts to trade off-exchange foreign currency (forex) contracts on a leverage or margined basis. None of the defendants has ever been registered with the CFTC. »

Judgment hammer

SEC obtains final judgement on consent against James Fleishman

Thu, 10/05/2012 - 12:00

The Honourable Jed S Rakoff, United States District Judge, United States District Court for the Southern District of New York, has entered a Final Judgment on consent as to James Fleishman in the SEC’s insider trading case, entitled SEC v Mark Anthony Longoria, et al, 11-CV-0753 (SDNY) (JSR). »

money frozen in a block of ice

CFTC charges Dimitry Vishnevetsky and Oxford Capital with commodity pool fraud

Tue, 08/05/2012 - 12:03

The Honourable Ruben Castillo, of the US District Court for the Northern District of Illinois, entered an order freezing the assets of defendants Dimitry Vishnevetsky of Chicago, and his company, Oxford Capital, LLC (OCL), a defunct Wisconsin limited liability company. The court’s order also prohibits the destruction of books and records. »

Orange fraud sign with a magnifying glass

CFTC charges Christopher Hales, Eric Richardson and Bentley Equities with fraud and Misappropriation

Fri, 04/05/2012 - 12:45

The US Commodity Futures Trading Commission (CFTC) has filed a federal court action in Utah charging Bentley Equities, LLC (Bentley), a Delaware corporation, and its principals, Christopher D Hales and Eric A Richardson, with fraud and misappropriation in connection with commodity futures trading. »

Judgement hammer

Court of appeal upholds USD62m Lauer judgement

Fri, 04/05/2012 - 10:00

The United States Court of Appeals for the Eleventh Circuit has affirmed the District Court’s grant of summary judgment against Michael Lauer, who controlled several hedge funds. »

orange fraud sign with magnifying glass

CFTC charges Sidney J Charles, Jr and The Borrowing Station over forex Ponzi scheme

Thu, 03/05/2012 - 10:00

The US Commodity Futures Trading Commission (CFTC) has filed a federal court action charging Sidney J Charles, Jr, formerly of Bowie, Md, and his company, The Borrowing Station, LLC (Borrowing Station), of Bowie, Md, with fraud, misappropriation, and registration violations in connection with an off-exchange leveraged foreign currency (forex) Ponzi scheme. »

No fraud sign

SEC files action against RKC Capital

Wed, 02/05/2012 - 13:45

The Securities and Exchange Commission has filed a Complaint in federal district court against RKC Capital Management LLC, RKC Capital, LLC (RKC) and Russell K Cannon (Cannon), (collectively “Defendants”). »

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